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Answer for I know a person who has taken ownership of a life ins policy without the original owners permission, is this legal?

Posted on: October 1, 2015By: Staff

There could be confusion about ownership. The owner of the policy can be someone other than the insured. For a variety of reasons the owner of the policy could be a former spouse for example.
An insurance company must respond to the owner of the policy, unless the owner is deemed incompetent. In the case of incompetency, the court appoints a conservator. The conservator acts on behalf of the owner of the policy but must the actions of the conservator are under the scrutiny of the court.